Marenno
Long

EURCAD General trading Idea, overnight observation

FX:EURCAD   Euro / Canadian Dollar
Indeterminate direction of price as no clear signs has been given by the last day closure.
Yesterday's close is below 5MA what gives a bit more power to bearish signals
Currently none of the major chart patterns appears (1D Chart)

Price is currently at 50% Fibonacci retracement area
in a relation to Previous swing UP

Will look for a bullish mid-term entry setup (based on 1D chart, using lower leverage and wider stops, this type of trade will be left open for a few days) at around 1.4200
Currently none of the major chart patterns appears on 4H chart

Will look for a bullish short term entry setup (based on 4H chart, this type of trade will be left open for a few hours) at around 1.438
"This Overnight observation is to give an overall trading idea on the coming day, but the session opening must be clearly watched, as, it is normal - when market moves in the opposite direction against the main direction for a short while.

P.S.: Sometimes you can see opposite opinions in my analysis. Please don’t rush to complain. It is happening due to a different timeframe analysis. 
Entry level on a higher grade chart can be a target on a lower grade chart"
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